1. BUDGET PREPARATION FOR GRANT PROPOSALS

2. STEP 1 Begin with a rough budget Or prepare the budget after the draft

3. STEP 2 Calculate all details of salaries and benefits Consult finance officer As a rule of thumb for calculating your costs, figure salaries will be 60 to 80% of the total request. Evaluation and dissemination will be 10 to 15% of the total. Make sure your PI’s salary takes into account any mandatory cap or other granting agency rules.

4. STEP 3 Calculate additional costs Consult finance officer As a new investigator, you should request a relatively modest budget. Be cost efficient – but don’t make your budget so low that you cannot do the work proposed if you are funded.

5. STEP 4 Follow your proposed plan with budget items Tell your story through your budget

6. STEP 5 Budget Narrative Give details about expense items, not general guidelines, i.e., “3 reams of print paper @ $7”----not “office supplies” Explain items, i.e. Program Coordinator will be hired during the first month of the program and receive 11 month salary the first year---not just include a reduced salary rate. Use budget narrative to tell the story further

7. STEP 6 Funding Sources Several columns for funding sources List partner contributions, i.e. teacher participant salaries, student WorkStudy, refreshments, travel, printing expenses Leverage other funds, i.e. previous research funds List INKIND contributions, i.e. OneNet

8. STEP 7 Include broader impacts Student researchers or workers Minority participants Community partnerships Community benefits

9. STEP 8 Review another model budget Ask financial officer or grant developer to review budget – 0 tolerance for errors! See if someone else can describe the project goals from reading the budget

10. Final Considerations Remember that you are begging for money. Remember that the grantor wants to give you his money! Remember that you are the best person for the job Ask for enough; ask for just enough. The grantor wants to make the best investment for his money---and YOU are stepping forward as the best investment.